NAR Chief Economist Lawrence Yun, "Consistent job gains and rising wages are modestly helping the housing market, with hourly wages increasing faster than home prices. However, mortgage rate fluctuations are the primary driver of homebuying decisions and impact housing affordability more than wage gains."
There is hope that rate cuts will help US mortgage rates but there's a fair chance that the long end moves up if the market isn't confident of getting inflation under control.
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